Leases (Tables)

3 Months Ended

Jan. 04, 2020

Schedule of Impacts of Adoption of New Accounting Pronouncements

As a result of the adoption, the following adjustments were made to the opening balances of the Company's Condensed Consolidated Balance Sheets (in thousands):



	September 28, 2019		Impacts due to adoption of Topic 842			September 29, 2019
ASSETS
Prepaid expenses and other	$	31,974	$	(170	)	$	31,804
Operating right-of-use assets	—		75,790			75,790
Property, plant and equipment, net	384,224		(1,833		)	382,391
Deferred income taxes	13,654		432			14,086
Other non-current assets	64,714		(30,193		)	34,521
LIABILITIES AND SHAREHOLDERS' EQUITY
Other accrued liabilities	$	106,461	$	7,939		$	114,400
Long-term debt and finance lease obligations, net of current portion	187,278		(207		)	187,071
Long-term operating lease liabilities	—		37,371			37,371
Retained earnings	1,178,677		(1,077		)	1,177,600

Schedule of Lease Expense and Other Information

The components of lease expense for three months ended January 4, 2020 were as follows (in thousands):



	Three Months Ended
	January 4, 2020
Finance lease expense:
Amortization of right-of-use assets	$	1,194
Interest on lease liabilities	1,291
Operating lease expense	3,181
Other lease expense	120
Total	$	5,786

Other information related to the Company’s leases was as follows:



	Three Months Ended
	January 4, 2020
Weighted-average remaining lease term (in years)
Finance leases	13.3
Operating leases	17.9
Weighted-average discount rate
Finance leases	17.7		%
Operating leases	3.0		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in finance leases	$	1,124
Operating cash flows used in operating leases	3,179
Finance cash flows used in finance leases	719
ROU assets obtained in exchange for lease liabilities (in thousands)
Operating leases	$	7,503
Finance leases	274

Schedule of Lease Assets and Liabilities

The following tables sets forth the amount of lease assets and lease liabilities included in the Company’s Condensed Consolidated Balance Sheets was (in thousands):



	Financial Statement Line Item	January 4, 2020
ASSETS
Finance lease assets	Property, plant and equipment, net	$	37,281
Operating lease assets	Right-of-use operating lease assets	79,318
Total lease assets		$	116,599

LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Finance lease liabilities	Current portion of long-term debt and finance lease obligations	$	2,718
Operating lease liabilities	Other accrued liabilities	9,102
Non-current
Finance lease liabilities	Long-term debt and finance lease obligations, net of current portion	36,946
Operating lease liabilities	Long-term operating lease liabilities	41,764
Total lease liabilities		$	90,530

Schedule of Future Minimum Lease Payments

Future minimum lease payments required under finance and operating leases as of January 4, 2020, were as follows (in thousands):



	Operating leases			Finance leases
Remaining 2020	$	7,979		$	5,572
2021	8,789			6,555
2022	8,006			6,064
2023	7,575			5,305
2024	5,979			4,988
2025 and thereafter	20,500			98,729
Total minimum lease payments	58,828			127,213
Less: imputed interest	(7,962		)	(87,549		)
Present value of lease liabilities	$	50,866		$	39,664

Schedule of Future Minimum Lease Payments (Prior to Adoption)

Future minimum lease payments required under long-term operating and capital leases as of September 28, 2019, were as follows (in thousands):



	Operating leases		Capital leases
2020	$	10,395	$	6,734
2021	6,554		3,490
2022	5,584		2,884
2023	5,153		1,652
2024	3,713		958
Thereafter	9,426		34,143
Total	$	40,825	$	49,861